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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: furrfu who wrote (45597)	8/8/2001 5:16:03 PM
From: LTK007	Read Replies (2) \| Respond to of 56535

1934 is a huge support line,so if it fails,the floor has broken.I would flip my Fibonacci at that point and i come up with the next major support at 1794---so i would say 1934 is quite important,in my groveling kowtowing humble opinion(LOL)--let's see that would acronym as IMGKHO:) Max

To: furrfu who wrote (45597)	8/8/2001 7:06:49 PM
From: ajtj99	Read Replies (1) \| Respond to of 56535

Furrfu, I agree with Max that if 1934 is breached, we're dropping. I have 1890 as a .382 Fib re-trace of the run from 1619 to 2328. That's a number I'm watching very closely. We did stop at the 1850-1870 level during the drop and subsequent rise from the 1619 low, so I'd look at that as another support level. There is also a gap-up that is between 1852 and 1885 that has not been filled going back to April 11, so if we do not bounce at 1890, I'd expect at least part of that gap to be filled (maybe to 1875 at least). Anyway, if we go down further, your QQQ Aug. 38 puts may make you money after all!